Prada In Serious Debt

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Many of you are probably feeling the strain of the holidays on your wallets. But there’s debt, and there’s 1.5 billion dollars worth of debt, which is unfortunately Prada’s current problem.

We certainly do not want to see the company go the way of Christian Lacroix (click here for the details), so we were happy to hear rumours that Miuccia was thinking of selling one third of the brand to Richemont, the Swiss based luxury goods group that owns Montblanc and Cartier. If the sale goes through, Richemont, the second largest luxury group in the world, would become a worthy rival of LVMH.

Now however, both parties are denying any such talks.

Since debt that extreme can’t go ignored for too long, we’re curious to see what happens. We’ll be sure to keep you posted.

– Alexa P Gray

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Filed under Fashion, Media News

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